Betfred Post £37 Million in Profits in Latest Results

Betfred the online and retail business owned by brothers Peter and Fred Done have announced revenues for the 2022 financial year rose by nearly £200 million at £723.2 million compared to  £525.9 million the previous year.

In the 12 months to September 25 the company reported profits of £37.8 million up by £6 million from the previous year.

Dividends paid out by the company show no payments to the brothers however the year before dividends handed out amounted to £51 million.

Total amount of bets wagered for the year hit £8.8 billion up from the £7 billion in 2022 however it is lower than pre Covid numbers in 2019 where the company hit £10.1 billion.

Betfred runs businesses in the UK, South Africa, Gibraltar and the US, over the last year the company has closed 51 of its UK retail outlets but still operates over 1,400 retail shops.